By turning their 8 p.m. hour over to Barack Obama’s 100th-day press conference, the broadcast networks are forfeiting millions of dollars in lost ads. That timeslot typically generates $21.5 million for the big four networks (ABC, CBS, Fox and NBC), according to the latest ad pricing data from Nielsen.
Fox has chosen not to air the presser, so it’s unknown exactly how much money ABC, CBS and NBC will lose, but Broadcasting and Cable argues that from a financial perspective, those networks made a bad move deciding to run Obama’s latest speech:
The event is a money loser for the networks not simply in lost airtime but also in the cost of the time to rejigger all the commercials, which will have to be accommodated elsewhere. The scheduling of spots is a finely tuned art, with advertisers negotiating their placement right down to their position within each pod, in addition to selecting which shows on which nights they want to advertise on.
Broadcast network owners are already seeing ad revenue declines this year and can ill afford to give up valuable airtime during a recession…
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